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How do I categorize a transfer between bank accounts as allowance for our son?

BethE

I have recently opened a First Checking account for our son to use for allowance transfers. How can I assign a category of 'allowance' to this transfer, when I need to have the categories listed as the To/From bank accounts? I want to be able to track what he is given as allowance, and right now I don't see how to do this secondary categorization…
I am running Quicken Classic Premier R54.9 27.1.54.9 on Windows 10 // I've been a Quicken user since 1994

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splasher

Just create a category like "Joe's Allowance". This should not be a transfer since your son's financial records should not be in the same file as your financial records. Create a file for your son's financial records if you are going to track more than his allowance. When he is old enough, give him the file to maintain on his own computer.

NotACPA

Is your son included on your tax return?

And, in QWin, a transfer can't be an expense also.

BethE

I'm unclear why these answers (although thank you to people for offering ideas). I am simply trying to track allowance, much like groceries, or fuel, or recreation expenses. This is our financial record.

From what I can discern from above, and from my experience, if I have to categorize it as a bank transfer, there is no way to also mark that as a category.

volvogirl

They are saying you should not have your son's bank account in your data file. You should just set up a Category for Son's Allowance.

Ps56k2

- we all have different ways of using Quicken -

I happen to still have "some" of our son's finances in Quicken when we set them up while he was in high school.
They are joint - me/him - but doesn't matter -

Each account has been setup in the "Separate" area - so they don't get into my reports and other balances and numbers.
I sometimes use a "transfer" between our checking account and his checking account…..
However - I also have some accounts where I do use a "category" to track/report money withdrawn from my account,
and a different "category" for money deposited into his account.

Each to his own - as long as you realize what you are doing, and any ramifications or implications.